Zall Group Ltd. 卓爾集團股份有限公司

Holdings in Fullshare (0607) via Shanghai Connect
Nice work by Glaucus Research today in a thorough analysis of the bubble in Fullshare, which also relates to a bubble in Zall (2098) because of their cross-holdings. Webb-site called these bubbles on 5-Aug-2016, and this chart suggests that accumulation of Fullshare by persons on the Southbound train may have propped it up. (25-Apr-2017)
Zall (2098) coughs up details of financial assets at 30-Jun-2016
Company announcement, 14-Nov-2016
This follows a complaint by Webb-site to HKEX on 28-Oct-2016. Zall held, as we suspected, 4.3% of Fullshare (607). Fullshare, as we already knew, holds over 8% of Zall. Both stocks are huge bubbles, in our view. The SFC issued a concentration warning in Zall in mid-2014, but has not issued one in Fullshare.
Zall (2098): we have two Co-chairmen but our articles don't allow it
Company announcement, 14-Sep-2016
Zall clarifies that only one of them is responsible for the legal duties of Chairman, but they will try to amend the Articles. This follows a complaint from Webb-site that appointing two Chairman was ultra vires. It's the least of their problems though - the stock is in a bubble, in our view.
MMT finds no insider dealing in Warderly shares
SFC, 5-Aug-2016
We don't disagree with the finding, but we annotate errors in the report regarding the outcome of an open offer. The MMT finds that when the duo sold shares in 2007, the information was no longer material, as the company was publicly known to be in difficulty and the stock was trading on its shell potential. Also, the alleged loss avoided becomes a profit avoided if the open offer had been taken up. Incidentally, Warderly is now known as Fullshare (0607) and in our view it is a bubble stock on 9x NAV, part of which is shares in another bubble stock, Zall (2098) which trades around 4x NAV.
Concentration warning in Zall Development (2098)
SFC, 22-May-2014
Concentration warning in Zall Development (2098)
SFC, 18-Oct-2011
This follows a complaint by Webb-site to the SFC on 3-Oct-2011.

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